The partnership allows brokers to link via eMoneyfacts to Gateway2Finance to submit prime personal loan applications online.
Gateway2Finance operates a cascade system which links directly to the back office systems of personal loan provider Black Horse Financial Services, a division of Lloyds TSB.
If the client can’t be placed they will then farmed out to other providers until a competitive deal is found.
Brokers will receive commission of 1% for each application that completes.
eMoneyfacts says this is the only solution on the market that allows introducers to apply online in real time for a personal loan for their client, get an instant decision and get paid commission.
If the client is approved, applicants will be contacted within hours by Black Horse and can attend their local Lloyds TSB branch to provide appropriate documentation to receive their funds or they can complete the process by post.
Ed Payne, Head of eMoneyfacts, says “eMoneyfacts is committed to helping brokers to diversify their business in this challenging market.
“We are delighted to be able to work with Gateway2Finance to bring this proposition to the Intermediary market.
“Not only does it help our users to earn commission by diversifying into a new market, it also helps their clients to raise funds from an alternative source.”
Paul Woodworth, Director at Gateway2Finance, says: “We are really pleased to be working with such a well established intermediary brand as eMoneyfacts.
“Our system, developed by Thoroughbred Solutions, offers a unique solution to our introducers by offering them the chance to apply online for personal loans and get an instant decision.”